Will look at exports after bolstering domestic presence: Sandeep Jain, Monte Carlo Fashions

In a chat with ET Now, Sandeep Jain, ED, Monte Carlo Fashions Ltd, shares his business outlook and talks about the company’s growth prospects. Excerpts:

ET Now: Can you give us a breakup of your domestic and the export revenues? Do you have any plans to improve the export segment going forward? That will be something that investors would be watching out for considering how the listing has been.

Sandeep Jain: Right now, we are present only in the domestic market. We would first like to establish our presence in the areas where we are not strong — like the south and the west. Once we strengthen ourselves pan-India, then we may look at exports.

We have around 194 stores. Out of that, 18 are owned by the company.

ET Now: What are the addition plans going forward? Will it be more on the franchisee model, or will it be a company-owned model?

Sandeep Jain: It would be both company-owned as well as franchise. We would be adding around 275 stores by financial year 2017.

ET Now: Will the management now focus on improving sales in the women and child fashion segment as well?

Sandeep Jain: This is one area where we are focussing more on growth. We launched a children’s wear range around two years back. We are shifting our focus more on women’s wear, because there sales are increasing every year. A lot of spending is happening by working women.

If we look globally, women account for almost 55% of the total apparel sales. But in India, it is just 45%. So there is still is a long way to go. This is one area we will definitely be focussing on.

ET Now: How have your raw material cost been panning out post the decline and downward trending in cotton and wool prices?

Sandeep Jain: Any downward trend in cotton or wool will definitely benefit the company.